1. India grants permission to NEA to export additional 40 megawatts of electricity
Tags: International News
India has allowed the Nepal Electricity Authority (NEA) to export an additional 40 MW of power from two more hydroelectric projects.
Important facts
The Central Electricity Authority of India has approved the sale of surplus power from two more hydro projects - 25 MW Kabeli B-1 and 20 MW Lower Modi - at competitive rates in the Indian energy market.
With this, 452.6 MW of surplus power can be exported to India from 10 hydropower projects.
NEA has stopped the export of surplus power to India from 19 December as generation from river-based hydroelectric power stations has reduced.
NEA has generated a net income of Rs 11.16 billion by trading 1.36 billion units of surplus power at a competitive rate in the Indian energy market till 18 December.
The current electricity demand of Nepal stands at around 1,680 MW, while the domestic production is 1,000 MW.
2. Department of Posts launches Online request Transfer Portal for Gramin Dak Sevaks
Tags: National News
The Department of Posts under the Ministry of Communications has launched an ‘Online request Transfer Portal’ for Gramin Dak Sevaks (GDS) on 28th December.
Important facts
Alok Sharma, Director General Postal Services launched the portal through video conference in the virtual presence of Chief Postmaster Generals of 23 Postal Circles and senior officers of the Department.
The process from the stage of receiving application from GDS to approval and issue of transfer order through the above portal has now been made paperless and simplified.
The launch of this portal is a major step towards bringing transparency and accountability in governance processes by leveraging technology.
The online process will also save time and resources.
Transfer of more than 5000 GDS at a time has been approved through the online portal on the day of portal launch.
About Department of Posts
For more than 150 years, the Department of Posts (DOP) has played an important role in the socio-economic development of the country.
It is the largest network of post offices in the world with more than one lakh 56 thousand post offices all over India.
Postal facilities are provided through Gramin Dak Sevaks (GDS).
It provides services for Indian citizens like delivering mail, accepting deposits under small savings schemes, providing life insurance cover under Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI), bill collection etc.
Formed - 1 October 1854
Headquarters - New Delhi
Director General Postal Services - Alok Sharma
3. India-Australia Economic Cooperation and Trade Agreement comes into force
Tags: International Relations International News
India, Australia Economic Cooperation and Trade Agreement comes into force from 29 December, 2022.
Economic Cooperation and Trade Agreement (ECTA)
India and Australia signed the Economic Cooperation and Trade Agreement (ECTA) on the 2nd of April 2022.
ECTA is the first trade agreement of India with a developed country after more than a decade.
The agreement covers cooperation in the entire gamut of bilateral economic and commercial relations between the two friendly countries.
This will benefit labour-intensive sectors of India such as gems and jewellery, textiles, leather, furniture, food and agriculture products, engineering products and medical devices.
On the other hand, India has granted preferential access to Australia on more than 70 per cent of its tariff lines, mainly in raw materials.
As a result of this agreement, 10 lakh jobs are expected to be created in the country.
India-Australia Trade Relations
Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner.
India-Australia bilateral trade in goods and services is pegged at US$ 27.5 billion in 2021.
India's merchandise exports to Australia grew by 135% between 2019 and 2021.
India’s exports to Australia - Manufactured goods such as petroleum, medicaments, diamonds, jewellery, railway coaches and vehicles, milled rice and herbicides.
India’s imports to Australia - 82% of its imports from Australia are coal, gold, copper ore, aluminium oxide, liquified natural gas, manganese ore, aluminium waste, pigments, lentils, etc.
4. India-Australia Economic Cooperation and Trade Agreement comes into force
Tags: International Relations International News
India, Australia Economic Cooperation and Trade Agreement comes into force from 29 December, 2022.
Economic Cooperation and Trade Agreement (ECTA)
India and Australia signed the Economic Cooperation and Trade Agreement (ECTA) on the 2nd of April 2022.
ECTA is the first trade agreement of India with a developed country after more than a decade.
The agreement covers cooperation in the entire gamut of bilateral economic and commercial relations between the two friendly countries.
This will benefit labour-intensive sectors of India such as gems and jewellery, textiles, leather, furniture, food and agriculture products, engineering products and medical devices.
On the other hand, India has granted preferential access to Australia on more than 70 per cent of its tariff lines, mainly in raw materials.
As a result of this agreement, 10 lakh jobs are expected to be created in the country.
India-Australia Trade Relations
Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner.
India-Australia bilateral trade in goods and services is pegged at US$ 27.5 billion in 2021.
India's merchandise exports to Australia grew by 135% between 2019 and 2021.
India’s exports to Australia - Manufactured goods such as petroleum, medicaments, diamonds, jewellery, railway coaches and vehicles, milled rice and herbicides.
India’s imports to Australia - 82% of its imports from Australia are coal, gold, copper ore, aluminium oxide, liquified natural gas, manganese ore, aluminium waste, pigments, lentils, etc.
5. Government owned WAPCOS ranked as top consulting firm by the Asian Development Bank
Tags: Reports National Economy/Finance
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The Asian Development Bank(ADB) in its annual Procurement report 2022 has ranked the Government of India owned Water and Power Consultancy Services India Limited (WAPCOS) Company as the top Consulting Services Firm in Water and other Infrastructure Sectors.
In another report on its Members’ Fact Sheet - 2022 released by the ADB, WAPCOS figured amongst the top 3 Consultants from India involved in Consulting Services Contracts under ADB Loan, Grant and Technical Assistance Projects in Energy, Transport and Water & other Urban Infrastructure Sectors. WAPCOS is the only Indian Public Sector to feature in the above categories.
The Manila, Philippines based Asian Development Bank is a regional development bank for Asia and Asia-Pacific region. It has 68 member countries and it is headed by Masatsugu Asakawa. It also releases the Asian development Outlook report.
WAPCOS
It was established by the government of India in 1969 under the aegis of the Ministry of Water Resources to utilize India’s knowledge and expertise in the field of water resources by sharing and exporting technology to friendly developing nations.
In 1979 the name of the Company was changed from “Water and Power Development Consultancy Services (India) Limited” to “Water and Power Consultancy Services (India) Limited.”
Apart from India, the Company has successfully completed/on-going consultancy assignments in more than 51 Countries covering Asia, Africa, CIS, Pacific Islands and South America.
Chairman cum Managing Director: Rajni Kant Aggrawal
Headquarters: New Delhi
6. External Affairs Minister S. Jaishankar to visit Cyprus, Austria from December 29 to 3 January
Tags: Person in news International News
According to the Ministry of External Affairs, External Affairs Minister S Jaishankar will visit the Republic of Cyprus and Austria from December 29 to 3 January 2023.
Minister S.Jaishankar will be in the Republic of Cyprus from December 29 to December 31, 2022. This year marks 60 years of diplomatic relations between India and Cyprus.
During his visit, Jaishankar will meet Cyprus foreign minister Ioannis Kasoulides. He will also address the Cyprus business and investment community and interact with the Indian diaspora.
Jaishankar visit to Austria
In Austria, the External affairs minister will meet Austrian Federal Minister for European and International Affairs, Alexander Schallenberg. This will be the first visit of an Indian foreign minister to Austria in the last 27 years. 2023 marks 75 years of diplomatic relations between India and Austria.
S.Jaishankar will also meet the foreign ministers of Austria, Czech Republic foreign minister Jan Lipavský and Slovakia foreign minister Rastislav Káčer who will be there in the Austrian capital Vienna for the Slavkov format meeting.
Slavkov is a place in the Czech Republic. The Slavkov format was created in 2015. It is a cooperation format between Austria, Slovakia, and the Czech Republic.
During his visit, Jaishankar will call on Austrian Chancellor Karl Nehammer. He will also meet Rafael Mariano Grossi, Director General of the Vienna-based International Atomic Energy Agency (IAEA).
Republic of Cyprus
It is an island European country in the eastern Mediterranean Sea.
It gained its Independence from Britain in 1960. The country has a majority population which are of Greece descent while the minority population are of Turkish origin.
Turkey invaded Cyprus in 1974 and created a Turkish Republic of Northern Cyprus in 1983. Except Turkey no country recognises Turkish Cyprus.
India also recognises the Cyprus government.
Capital: Nicosia
Currency: Euro
President: Nicos Anastasiades
7. 1.53 lakh people died in 4.12 lakh road accidents in 2021: Ministry of Road Transport and Highways Report
According to a report released by the Union Ministry of Road Transport and Highways on 28 December 2022 a total of 4,12,432 road accidents occurred in the 2021 calendar year which claimed 1,53,972 lives while 3,84,448 people were injured.
The report titled 'Road accidents in India — 2021', said major indicators related to accidents have performed better in 2021 when compared to 2019.
According to the report, "Road accidents decreased by 8.1 percent and injuries decreased by 14.8 percent in 2021 compared to 2019. Fatalities, however, on account of road accidents increased by 1.9 percent in 2021 corresponding to the same period in 2019,”
Not wearing seat belt and helmet a reason for road fatalities
- According to the report a total of 16,397 persons were killed in road accidents in 2021 due to not wearing seat belt, of which 8,438 were drivers and remaining 7,959 were passengers.
- A total of 46,593 persons were killed in road accidents due to not wearing a helmet, of which 32,877 were drivers and 13,716 were passengers.
- According to the report, not wearing a helmet caused injuries to 93,763 persons and not wearing seat belts caused injuries to 39,231 persons during 2021.
- Not using safety devices such as helmet and seat belt does not cause accidents but are critical for averting fatal and grievous injuries in the event of road accidents.
- Although not wearing a seat belt by passengers sitting in the rear seats attracts a fine of Rs 1,000 under Rule 138 (3) of the Central Motor Vehicle Rules (CMVR), most people are either unaware of this mandatory rule or just ignore it.
The country saw an unprecedented decrease in accidents, fatalities, and injuries. This was due to the outbreak of the COVID-19 pandemic and the resultant stringent nationwide lockdown particularly during March-April, 2020 followed by gradual unlocking and phasing out of the containment measures, it said.
The report is based on the data/information received from police departments of states/Union Territories collected on a calendar year basis in standardized formats as provided by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) under the Asia Pacific Road Accident Data (APRAD) base project.
Union Minister for Road Transport and Highways: Nitin Gadkari
8. IOCL to help in the TB elimination effort of Uttar Pradesh and Chhattisgarh
Tags: National Economy/Finance Science and Technology State News
The government of India owned Indian Oil Corporation Limited (IOCL) has signed a Memorandum of Understanding (MoU) with the Central TB Division under the Ministry of Health and Family Welfare and the states of Uttar Pradesh and Chhattisgarh to undertake an intensified TB elimination project. This effort of the IOCL is part of its Corporate Social Responsibility.
The MoU was signed in presence of Union Minister of Health and Family Welfare Dr. Mansukh Mandaviya and Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs, Hardeep Singh Puri in New Delhi on 28 December 2022.
According to the World Health Organisation 26% of Tuberculosis (TB) cases in the world in 2020 was reported from India. Within India Uttar Pradesh and Chhattisgarh share the highest burden of TB cases among large states in India. The Indian Government has set a target to eliminate TB in India by 2025.
Indian Oil has emerged as the first corporate to supplement state efforts in Active Case Finding campaign (ACF) by investing close to Rs. 64 crore in all 75 districts of UP, covering approximately 10% of its population once a year for three years.
Indian Oil will also introduce handheld X Ray Units, Mobile Medical Vans, equipped with cutting-edge diagnostic technology in Uttar Pradesh and Chhattisgarh. This would aid diagnosis of TB in rural areas and hard-to-reach communities leading to improved early case detection and thereby ensuring early treatment.
Under Corporate Social Responsibility (CSR) certain public or private sector companies have to spend a minimum 2% of the average net profits made during the 3 immediately preceding financial years on certain sectors identified by the government...
Every year March 24 is observed as World Tuberculosis Day in the world.
9. RBI releases web publication entitled ‘Statistical Tables relating to Banks in India: 2021-22’
Tags: Economy/Finance Books and Authors National News
The Reserve Bank released its web publication entitled ‘Statistical Tables relating to Banks in India: 2021-22’ covering the activities of the Indian banking sector on 27 December.
Important facts
The publication presents entity-wise information on major items of liabilities and assets along with their maturity profile, income and expenses, select financial ratios, number of employees, and details of priority sector advances for scheduled commercial banks excluding regional rural banks.
In addition, capital-to-risk-weighted asset ratios, non-performing assets, exposure to sensitive sectors, contingent liabilities, and unclaimed deposits are included.
State-wise distribution of consolidated balance sheet of rural cooperative banks are also presented.
The publication can be accessed on the RBI website through the link ‘Time Series Publications’ under the Database on Indian Economy.
10. Union Minister Hardeep Singh Puri launches guidelines for City Finance Rankings and City Beauty Competition
Tags: National News
Housing and Urban Affairs Minister Hardeep Singh Puri on 28th December launched the guidelines for City Finance Rankings and City Beauty Competition in New Delhi.
Important facts
The City Finance Ranking aims to evaluate, recognize and reward cities based on their current financial status and improvements in financial performance over time.
The City Beauty Competition guidelines aim to encourage and recognize the transformative efforts of wards and cities to create beautiful, innovative and inclusive public spaces.
All cities and wards can participate in the City Beauty Competition.
These initiatives will take the journey of urban rejuvenation of the country to another level.
The government has launched several schemes like Swachh Bharat Mission, Atal Mission for Rejuvenation and Urban Transformation Mission which transformed the country.
